Executives of top pharmaceutical companies were recently grilled before a U.S. congressional panel about the nation’s skyrocketing drug prices, with one senator accusing Big Pharma of blaming everyone but themselves and another saying the execs were “stonewalling” in their answers.
Until the latter years of the twentieth century, only rarely did politicians and the mainstream media give prominent attention to the criminal nature of the pharmaceutical ‘business with disease’. While incidents such as the thalidomide affair had raised awareness of the dangers of drugs, the pharma industry was still largely perceived as providing a benefit to mankind. Today, however, as the words of this U.S. Senator demonstrate, its public image is very different.
In recent years, the list of crimes and misconducts committed by pharma companies has included falsifying data on drugs; failing to warn patients of the dangers of drugs; contributing to and profiting from the opioid crisis; as well as bribing doctors and health officials. Not only has this resulted in awareness of pharma crimes becoming widespread, the industry’s reputation now lies in ruins.
To learn why pharma industry may be on the brink of terminal decline, see this article on our website.